Italy's Atlantia may sell stake in motorway to support foreign growth

MILAN, March 7 (Reuters) - Italian airport and motorway
operator Atlantia may sell a stake in its Autostrade
per l'Italia unit as a way to support growth abroad, Atlantia
Chief Executive Giovanni Castellucci said on Monday.

To increase its exposure to the global economy, the group
wants to expand its aviation business, Castellucci said, adding
Atlantia was looking at the privatisation of the Nice airport
but also at possible bargains in Latin America.

The group currently operates Rome's airports through
Aeroporti di Roma unit and manages 5,000 km (3,107 miles) of
motorways in Italy and Latin America through its division
Autostrade per l'Italia (ASPI).

More than 70 percent of its revenue comes from its domestic
road business, which in recent years suffered due to an economic
recession in Italy that cut motorway traffic.

"If necessary we are ready to sell a stake in Autostrade per
l'Italia," Castellucci told an analyst conference, adding he was
sure the group could find good investment opportunities abroad.

Italian newspapers reported last week that Atlantia, which
has a market value of 19.4 billion euros ($21 billion), could
sell up to 30 percent of ASPI to fund acquisitions.

One third of ASPI, which is currently wholly owned by
Atlantia, could have a value of over 5 billion euros, brokerage
house Intermonte said.

"We are looking at airports... in particular at the ones
exposed to global growth," Castellucci said, adding, however,
the group was not under pressure to do acquisitions in the short
term.

The airport of Nice, on the French Riviera, was interesting,
the CEO said, adding the group was also looking at assets owned
by distressed sellers in Latin America, particularly in Brazil.
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